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Court Rejects Langone's Bid

Updated April 25, 2008 12:01 a.m. ET

A New York state court rejected former New York Stock Exchange director Ken Langone's bid to dismiss a suit filed against him by former New York Attorney General Eliot Spitzer for failing to make disclosures to the NYSE board about the pay package of the exchange's former chief executive, Dick Grasso.

The 3-2 decision by the appellate division of the New York State Supreme Court backed a lower-court judge who in 2006 denied a motion by the 72-year-old Mr. Langone to dismiss the complaint against him. Mr. Langone,...